Italian Champions Juventus Report €19.2m Loss for 2017/18 Season Despite Low Net Spend
Juventus have reported a loss of €19.2m for the financial year running from 1 July 2017 to 30 June 2018.
The Italian champions confirmed in a brief statement on the club website that the Juventus board had met and approved the draft statements for the last financial year.
"In a meeting chaired by club president Andrea Agnelli, the Juventus Football Club S.p.A board of directors today approved the draft financial statements for the year ended 30 June 2018," read the statement.
"The Board of Directors has approved the draft financial statements for the year ended 30 June 2018, reporting a loss of €19.2m which will be covered by use of the Share Premium Reserve.
"The Shareholders’ OGM is called on 25 October 2018 at the Allianz Stadium."
Juventus' losses come despite some sensible spending in the transfer market during the 2017/18 season, when they recouped a lot of their money through player sales.
Despite spending big money on the likes of Federico Bernadeschi, Juan Cuadrado and Blaise Matuidi, outgoing transfers meant that their net spend was actually very low.
Their best piece of business was the €42m sale of Leonardo Bonucci to Milan, although the Italian defender has since returned to the club.
Juventus have been much more ambitious this summer with several big acquisitions, most notably the club record signing of Cristiano Ronaldo for €100m.
